Tuesday’s start of AI law Norm he said it raised $120 million in a Series C funding round led by Khosla Ventures, valuing the nearly three-year-old startup at $1.2 billion.
Norm founded Norm Law, an AI-powered law firm that uses the company’s own AI agents, hires human attorneys to supervise them, and offers legal services to enterprise clients. It also creates AI agents that can monitor other AI agents as they perform their tasks.
The company, unlike the rest of the industry, charges its clients by results instead of hourly.
Norm is one of several legitimate AI startups that have sought to capitalize on the need to automate tedious work, such as Harvey and Legora over the past few years.
Other investors in Norm’s Series C include Bain, Craft Ventures, Coatue, Vanguard, New York Life, TIAA, Tony James (former president and CEO of Blackstone), Jeff Hammes (former chairman of Kirkland & Ellis) and Fenwick LLP. The fresh capital will be used to help build the product and hire more lawyers.
The company has raised more than $260 million to date.
